Calculations
3 year GIC
Year 1 – 40,000 x 1.042 = 41,680
Year 2 – 41,680 x 1.042 = 43,430.56
Year 3 – 43,430.56 x 1.042 = 45,254.64
Year 1 GIC and Savings
Year 1 – 40,000 x 1.035 = 41,400 + 10,000 = 51,400
Year 2 – 51,400 x 1.035 = 53,199 + 10,000 = 63,199
Year 3 – 63,199 x 1.035 = 65, 410.97 + 10,000 = 75, 410.97
45, 254.64 + 75, 410.97 = 120, 665.61
Total – 120, 665.61
Justification
The strengths of my solution is that I can not lose my money because it is all locked away in the GIC there for is it locked away for as long as the GIC is (1 year or 3 years). I feel this solution best suits me because when I have money I spend it all and that is exactly what I would do if I had this amount of money just laying around. The weaknesses of solution is that what if a big bill comes up or I’m in need of some money, what am I supposed to do when all of the money is locked away in the GIC.
Collaboration and Contributes
Me and my partner worked really well together and we communicated very well.
I contributed to the group by asking the teachers some questions and then giving the feedback the teacher gave me back to my group so then we can achieve our goals.
We only used the solution of putty our money in the GIC and it will work out very well in the end.
4 – Because I am not a shy person and I always ask questions and then give the feedback to my group, as I did in this assignment.
Core Competency Reflection
I can ask and respond to questions to be an active, supportive listener.
I demonstrate this by asking questions to the teachers and I listen when they are helping me so then I can apply the help they gave me into all of my work in the future in that class.
I can understand and share information about a topic of interest in a clear, organized way.
I can demonstrate this because if u scroll up in my blog you can see how organized my work is and how it shows my learning very clearly. This blog also shows how I can apply my learning into my work during class.
As an active listener, I notice that I…
May have a question going threw my head that other people may be wondering at the same time as me, I always ask my questions to not only help my learning but to also help the class and other students as they may be wanting to ask the same question.